By Xavier Fontdegloria
U.S. wholesalers stepped up their restocking of supplies in November as supply chains continued to normalize, according to data from the Commerce Department released Tuesday.
Inventories of U.S. merchant wholesalers increased 1% in November on month, accelerating from October's 0.6% increase.
The reading is in line with economists' expectations in a poll by The Wall Street Journal.
The ratio of inventories to sales increased to 1.35 in November, up from 1.32 in October and from 1.21 the same month a year earlier. The rate has increased significantly over 2022 as inventories rose amid easing supply-chain bottlenecks while sales moderated.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
(END) Dow Jones Newswires
01-10-23 1025ET
